Austria pension reform to expand occupational retirement options from 2028

The VBV Group has expressed support for the occupational pension reform passed by the Austrian National Council. Starting in 2028, the reform aims to expand access to pension fund solutions and provide more options for retirement savings.

Key changes include the introduction of the Vorsorge-Veranlagungsgemeinschaft (VVG), a new investment community for 'Abfertigung NEU' that offers higher long-term return potential through more flexible investment principles, though without a capital guarantee. The traditional 'Abfertigung NEU' with a legal capital guarantee will remain an option.

Additionally, a new standard pension fund product will allow for the voluntary transfer of 'Abfertigung NEU' assets into a lifelong supplementary pension, even if the employer does not offer a specific pension fund solution. The reform also introduces tax improvements and increased flexibility for the payout of voluntary individual contributions.